Real Estate Development​/Project Accountant

Description

We are looking for a Project Accountant to support the financial management of affordable housing development initiatives in Brooklyn, New York. This role partners with development, construction, and finance teams to oversee budgets, funding activity, and reporting throughout each project stage, from early planning through completion and stabilization. The ideal candidate brings strong project accounting experience, a solid understanding of construction-related financial controls, and the ability to maintain accurate records in a deadline-driven nonprofit environment.

Development, Construction Financial Oversight, and Leadership

- Participate in Housing Development project meetings to provide financial updates, assess risk, and support business decision-making.

- Review proposals and contracts for fiscal responsibility, completeness, and consistency with standardized billing and documentation requirements.

- Prepare budget-to-actual analyses and variance reports for internal leadership and external partners.

- Coordinate with tax and external accountants, agencies, and partners to complete key deliverables, including development budgets, eligible basis calculations, carryover allocations, cost certifications, bond tests (50%/25%), and 8609 filings.

- Interface with syndicators, lenders, and housing agencies to respond to financial inquiries.

Development, Construction Budget Maintenance, and Reporting

- In collaboration with Project Managers, maintain and update detailed development and construction budgets.

- Establish and maintain project controls in Yardi, including job cost budgets, contracts, sources and uses, and expense tracking.

- Review and code development and construction transactions in Yardi to ensure accurate cost allocation.

- Prepare Anticipated Cost Reports, cash flow projections, and other financial analyses.

- Maintain organized project documentation to support audits and funder reviews.

- Support monthly close and annual audit processes related to the development pipeline.

Construction Loan Draw Management

- Lead end-to-end construction loan draw processes across multiple projects.

- Prepare, review, and submit draw packages to lenders, investors, and public agencies.

- Coordinate supporting documentation, including pay applications, lien waivers, title reports, inspection reports, and cost backup.

- Coordinate with vendors and project managers to ensure invoices align with contracts, change orders, and approved budgets.

- Reconcile draws across Yardi job cost, general ledger, bank statements, and external lender tracking.

- Monitor draw schedules to ensure timely reimbursement of project expenditures.

- Approve invoices and coordinate with Accounts Payable on vendor setup and payments.

- Support project closeout, including final cost certification, reconciliation, and documentation.

Requirements

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